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Non Equity Partner Agreement
"I need a Non Equity Partner Agreement for our London-based law firm to bring on a senior associate as non-equity partner from March 2025, with specific provisions for international client work and a clear path to equity partnership after 3 years."
1. Parties: Identification of the partnership and the incoming non-equity partner
2. Background: Context of the agreement and partnership structure
3. Definitions: Key terms used throughout the agreement
4. Appointment and Status: Terms of appointment and classification of partner status
5. Duties and Obligations: Partner responsibilities and performance expectations
6. Remuneration: Compensation structure, profit share, and benefits
7. Governance: Decision-making rights and voting powers
8. Termination: Circumstances and procedures for ending the relationship
1. Capital Contribution: Required if partner must make financial contribution - use when partner is required to make capital investment
2. International Practice: Rules for cross-border practice - use for partnerships with international operations
3. Professional Indemnity: Special insurance provisions - use for regulated professions or high-risk sectors
1. Partner Compensation Schedule: Detailed breakdown of compensation structure
2. Partner Obligations: Detailed list of specific duties and responsibilities
3. Restrictive Covenants: Post-termination restrictions and non-compete provisions
4. Benefits Package: Details of additional benefits and allowances
5. Performance Metrics: KPIs and performance evaluation criteria
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